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Responsible business

About us
Sustainability
Responsible Business

A global mindset and responsible business conduct are key to NKT. We are committed to ensure a proper corporate governance and that we have the necessary processes, rules and policies in place.

Governance – Compliance

At NKT, the Compliance Board oversees the development and execution of our Compliance program which we operate across the entire NKT Group and which is ultimately supervised by the Audit Committee on behalf of the Board of Directors. The Compliance function collaborates with Financial Compliance on implementing internal controls to increase our efforts in detecting potential compliance issues.

Code of Conduct

Compliance Board

Good corporate governance is an ongoing focus area for NKT and is ultimately anchored at the Board of Directors of the NKT Group. Learn more on corporate governance here.

Corporate governance report

Two business colleagues having unformal meeting in hallway

Whistleblower Hotline

We operate a whistleblower hotline that can be used by both employees and external stakeholders to report concerns about unethical behaviour. Our employees are encouraged to speak up and we have a strict non-retaliation policy.

Whistleblower Hotline

Export controls and Sanctions law

As a global company, we comply with both national and international trade controls, including economic sanctions and export controls. To ensure compliance, we operate a robust compliance program according to which all relevant business partners are screened to ensure they are not subject to any applicable sanctions or other relevant restrictions and all business transactions will immediately be terminated if that is the case. While we primarily operate in low-risk countries in relation to sanction and trade controls, the area is reviewed on a continuous basis.

As a global company, complying with export controls and sanctions regulations is key to our operations and compliance is being monitored closely.

— Michael Stagelund Hvidt, Ethics & Compliance

Responsible tax

NKT is a responsible taxpayer, and we base our tax reporting on responsibility, openness and transparency in all aspects of tax related reporting and compliance, wherever the company and its subsidiaries operate. We are committed to work with relevant stakeholders to drive transparency and the development of efficient tax systems and aim to follow recommendations of Good Governance on tax affairs in the countries in which the subsidiaries of NKT are located. NKT does not operate in tax havens and any future operations in tax havens will be of purely commercial reasons.

Tax policy

Human and labour rights

As a signatory to the UN Global Compact, we are committed to conforming to all aspects of the Universal Declaration of Human Rights.

Human Rights Policy

The Norwegian Transparency Act requires larger companies to carry out human rights due diligence assessments, with the aim of promoting respect for fundamental human rights and decent working conditions in companies, and ensure public access to information.

Norwegian Transparancy Act

See the Modern Slavery Statement

Modern Slavery Statement

See the Modern Slavery Statement for UK and AUS

Modern Slavery Statement

NKT is committed to contribute to an accelerated transition to a low-carbon economy – both through our products and services, and by how we conduct business. We recognize that it is essential to respect and protect human rights as part of addressing the challenges posed by climate change and promoting sustainability. NKT's commitment to human rights aligned with recognized international human rights standards including the International Bill of Human Rights and the eight International Labour Organizations (ILO) fundamental core conventions forming the basis of ILO's Declaration on Fundamental Principles and Rights at Work. Our approach to human rights is guided by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.

In NKT, we respect and abide by local labour law, and supports freedom of association, and all employees have contracts complying with local laws and regulations.

Our Human & Labour Rights policy clearly states that we reject any form of forced labour and do not condone the hiring of child labour. At NKT, employees have employment contracts, they are trained in our Code of Conduct including, and they are committed to continuously identifying and eliminating potential violations. Our business partners are expected to comply with the principles of our Code of Conduct, in which Human & Labour Rights are an integral part.

Supplier Due Diligence

Supplier due diligence approach includes supplier qualification, compliance and financial risk review and supplier audits.

Governance structure

We recognize the importance of having clear governance to ensure the corporate integration of sustainability. 

Clear governance helps to ensure that decisions are taken at an appropriate level, that sustainability is prioritized and aligned with the business agenda and that the commitment to sustainability is addressed across the organization. 

In 2022, we established the ESG Committee, a Board of Directors’ committee charged solely with preparing resolutions to be taken by the Board of Directors in fulfilling its responsibility for oversight of relevant ESG policies, strategies and programs.See governance structure in the latest sustainability report.

Sustainability Report 2023

Policies

We have corporate policies and rules in place which govern the compliance of NKT, our employees and business partners with relevant regulations, laws and our Code of Conduct.